The forecast for May week 1 is Neutral.
This week was a large bear candle, with no tail on the top and a small tail on the bottom. The volume was high and the OBV is facing down. It broke a recent support line but is now in another support price area. The angle of the descent is now quite sharp and may result in unknown candle direction.
Onto the Day chart, as we can see, Monday opened Bear and each day followed with more Bear candles. Note the volume on the Bear candles increased and the volume on the Friday candle (a Bull candle) was lower and the body was contained inside the Thursday candle. Fridays candles presents the possibility that most of this week could be sideways candles until around Thursday or Friday.
In no way is the information financial advice.
This week was a large bear candle, with no tail on the top and a small tail on the bottom. The volume was high and the OBV is facing down. It broke a recent support line but is now in another support price area. The angle of the descent is now quite sharp and may result in unknown candle direction.
Onto the Day chart, as we can see, Monday opened Bear and each day followed with more Bear candles. Note the volume on the Bear candles increased and the volume on the Friday candle (a Bull candle) was lower and the body was contained inside the Thursday candle. Fridays candles presents the possibility that most of this week could be sideways candles until around Thursday or Friday.
In no way is the information financial advice.
Comment:
This week was a decent assessment